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Feb 12, 2010
02/10
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let the american in on how bad things are in greece. what is it like in greece? >> we sume the countries like greece and you add in portland, ireland and spain. we use the acronym pigs. they have spiraling unemployment and rocketing deficits and the markets no longer believe that the politicians can possibly pay off the debt they've racked up before and during the economic crisis. and just some of it predicted no sooner did they industry to start balancing the budget and greece has to get their deficit down from 13% to 3% in three years. then, of course, the public sectors went on strike and took to the streets. we have people in the street of athens today. i imagine tomorrow, too. the country will grind to a halt. their only hope is their old friends the germans will bail them out. that is greece's economic policy. hand-out from germany. >> to icokay. >> glenn: if i'm not mistake and and seeing what i read in the paper recently, the people in the streets now, are the labor unions. because they have, greece expanded the role of government. there are so many gover
let the american in on how bad things are in greece. what is it like in greece? >> we sume the countries like greece and you add in portland, ireland and spain. we use the acronym pigs. they have spiraling unemployment and rocketing deficits and the markets no longer believe that the politicians can possibly pay off the debt they've racked up before and during the economic crisis. and just some of it predicted no sooner did they industry to start balancing the budget and greece has to get...
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Dec 29, 2010
12/10
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and greece was the one to watch. greece and france. now here is greece. greece became the leader. right. and greece was the one that they said if it's going to fall, it will pull everybody down. >> they saw potential dominoes. contagion, the economists refer to it as con stay john. so you start -- contagion. so you start with greece. it's not a huge component but it starts contagion. so if that starts what happens to others and the dominoes, because many are ensuring greece's safety. if it starts to roll, start with greece. >> glenn: c'mere. c'mere. greece, greece is a state of the european union. >> it is. >> glenn: they are a capital "s." a state. okay? sovereign nation. so it's a state in the european union. tell me about greece. >> it makes up a small percentage in terms of the economy. when we talk about the european community or the european economy, it's only 2.5% of the overall economy. the g.d.p. >> glenn: so 2.5% of the economy. >> small percentage. >> glenn: the 25th largest -- >> not a huge piece of the world economy. 27th largest economy in the world. not big. >> glen
and greece was the one to watch. greece and france. now here is greece. greece became the leader. right. and greece was the one that they said if it's going to fall, it will pull everybody down. >> they saw potential dominoes. contagion, the economists refer to it as con stay john. so you start -- contagion. so you start with greece. it's not a huge component but it starts contagion. so if that starts what happens to others and the dominoes, because many are ensuring greece's safety. if...
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May 8, 2010
05/10
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brenda, i think the freefall in greece is done. in fact, the way to play it buy the national bank of greece, i think it's up 15% by the end of the year and tell you what, this stock is right where our financial stocks were back in march of '09 and then they sprinted up. >> brenda: pat, bull or bear. >> giant grizzly bear. >> brenda: okay and your prediction. >> bank of america, speaking of banks, pulled back 20% in the past couple of weeks. 10% of the deposit base in the u.s. not the world's best barj, a lot of problems to work through, but 60% of book value. >> brenda: gary b do you like it. >> i look it when it drops one more dollar from the current close and then i buy it. >> brenda: tobin. knights system, why sf the times square issue, cameras. and i think it's up another 40%. >> brenda: gary b, bull or bear, quickly. >> i love it, good call. >> brenda: and eric. >> all right, bp, trying to put over the spill or just-- killing me, man. >> and prokt and gamble makes dawn, dawn takes the grease off our friends. here is our little
brenda, i think the freefall in greece is done. in fact, the way to play it buy the national bank of greece, i think it's up 15% by the end of the year and tell you what, this stock is right where our financial stocks were back in march of '09 and then they sprinted up. >> brenda: pat, bull or bear. >> giant grizzly bear. >> brenda: okay and your prediction. >> bank of america, speaking of banks, pulled back 20% in the past couple of weeks. 10% of the deposit base in the...
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May 6, 2010
05/10
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greece, a meddlesome washington was there. spending more than we're taking in not only in this country but all countries. all those basic issues were still out there. do we ignore them and say all is right with the world? >> not aware. we're aware of the issues. we don't know how any of those three will come out. >> neil: is it a sense the correction is still coming, this just wasn't the day or -- normally crashes -- you're a student of them. we talked in the '87 one, that was portfolio insurance and it wasn't the protecter that it was supposed to be. everything fell on top of one another. >> but what triggered that was the merger, also. the arbitrary guys had the deal done then undone. >> neil: that were later in '89. >> that's a problem. >> neil: could we see that again or would this have the perverse effect of making people feel all it right. >> i think what is says is two things. the market actually worked. if this was an error, the market worked and stayed open. it was a tragedy and people will get hurt. the other thing -
greece, a meddlesome washington was there. spending more than we're taking in not only in this country but all countries. all those basic issues were still out there. do we ignore them and say all is right with the world? >> not aware. we're aware of the issues. we don't know how any of those three will come out. >> neil: is it a sense the correction is still coming, this just wasn't the day or -- normally crashes -- you're a student of them. we talked in the '87 one, that was...
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May 7, 2010
05/10
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this $145 billion for greece would possibly be followed up by more for greece as well as other countries that are facing very difficult budgets also. >> neil: these are lending agencies, not the u.s. government doing it. but i understand the gist of your point. i guess if you argue against all of the bailouts we've seen, and now what could be the bailout of greece and other countries to follow, then if you let them all rip, the argument is there's hell to pay for everybody else and it was the one firm we didn't save in 2008, lehman brothers, i remember covering that because the treasury secretary paulson says i'm bailing out everybody, we have to cool it. so we didn't rescue lehman and kaboom. i guess you're right, we'll never know and i'm against the bailouts and rescues as well, but you're always going to wonder what happens when you just say no to everybody. is there just a global free fall? because people for these things say that's exactly what you'll get, a global free fall. >> this is -- these are governments that we're talking about bailouts for. these are governments that have b
this $145 billion for greece would possibly be followed up by more for greece as well as other countries that are facing very difficult budgets also. >> neil: these are lending agencies, not the u.s. government doing it. but i understand the gist of your point. i guess if you argue against all of the bailouts we've seen, and now what could be the bailout of greece and other countries to follow, then if you let them all rip, the argument is there's hell to pay for everybody else and it was...
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May 6, 2010
05/10
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greece decided to do it. now we are seeing additional protests after the lawmakers approved these drastic cuts that are needed to secure these international rescue loans. they are speak of $140 billion in bailouts. the demonstrators are shouting antigovernment slogans through loud speakers. they unfurled a giant black banner outside of parliament. there are 30,000 demonstrators filling the downtown streets chanting they declared war, now fight back. the protests followed violent protests wednesday and three people were killed after a bank was firebombed. this is just incredible. as we watch this situation in a country that is guilty of overspending and now here are the results. it is a scary situation for the residents of greece. and for the government there as well. which is trying at this point to do the right thing. but what can it do? what options does it have left when it needs that check to be cut. and the conditions are those. cuts in spending. get the budgets under control. that's how it's done. you h
greece decided to do it. now we are seeing additional protests after the lawmakers approved these drastic cuts that are needed to secure these international rescue loans. they are speak of $140 billion in bailouts. the demonstrators are shouting antigovernment slogans through loud speakers. they unfurled a giant black banner outside of parliament. there are 30,000 demonstrators filling the downtown streets chanting they declared war, now fight back. the protests followed violent protests...
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Apr 13, 2010
04/10
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in which case, we become greece. we have to start now with deficit reduction because once we're on waur it's almost impossible to go in reverse. that's why i have been talking about for weeks the v.a.t. i don't see another way to raise taxes such as a national sales tax that could be gusher of revenue. >> bret: because who is going to bail out the u.s.? >> nobody. we are the backstop. there is nobody behind us the way the e.u. is behind greece. >> bret: do you think this is a cautionary tale that is at least having some impact here in washington? or do you think people are not paying attention? >> we noticed after the healthcare bill was signed in law, everyone started to warn about the danger of the deficit. many coming from this administration. so, it is late in the game. the president appointed a commission to try to address this. we don't know if there is a political will in either party to do so. greece is a warning to all western nation with aging population and mounting deficit you don't a worker base to suppo
in which case, we become greece. we have to start now with deficit reduction because once we're on waur it's almost impossible to go in reverse. that's why i have been talking about for weeks the v.a.t. i don't see another way to raise taxes such as a national sales tax that could be gusher of revenue. >> bret: because who is going to bail out the u.s.? >> nobody. we are the backstop. there is nobody behind us the way the e.u. is behind greece. >> bret: do you think this is a...
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Dec 2, 2010
12/10
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and greece was the one to watch. greece and france. now, here is greece. greece became the leader. and greece was the one that they said, if it's going to fall, it will pull everybody down. >> they saw potential domino. the economist refer to it. greece is not a huge component of the european community, but it starts it. they're concerned if that starts, then what happens to the other and the dominoes because many of them are insuring greece's safety. so if it starts to roll, it would start with greece. >> come here. greece is a state of the european union. >> it is. >> they're a capital s. it's a state. sovereign nation. so a state in the european union. tell me about greece. >> it makes up a small percentage? terms of its economy. when we talk about the european community or the european common, it's 2.5% of the overall economy, gdp. >> it's actually the ez. right? >> europe zone. correct. >> the e.u., it's -- >> it's less, 1.8. because it's a -- these are 26 states. -- 27 states. these are 16 states. >> got it? it's 2.5% of the economy. >> not a huge part of it. it's what i want
and greece was the one to watch. greece and france. now, here is greece. greece became the leader. and greece was the one that they said, if it's going to fall, it will pull everybody down. >> they saw potential domino. the economist refer to it. greece is not a huge component of the european community, but it starts it. they're concerned if that starts, then what happens to the other and the dominoes because many of them are insuring greece's safety. so if it starts to roll, it would...
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May 15, 2010
05/10
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just like in greece. the massive underfunding of pension pensions, the states are not paying in pension. they are robbing peter to pay paul and the states are absolutely bankrupt. there is not an answer by the administration or by anybody else dealing with this. they are going to try to bail them out but it's solvency, not liquidity. >> cheryl: tracy, do you agree with john we're daling out the states in some, shape, form already? is that correct? >> absolutely. we have been all along. the only difference between us and greece right now is we're making an attempt to make changes. we are not seeing it out of greece at all. we're not seeing the greeks make any change whatsoever, except for protests in the street like babies. we're trying here. we're robbing from peter to pay paul, and we have no money somewhat whatsoever. based on how obama administration is performing they're only going to write more checks and hand them out. >> where are we making the changes? >> i have to jump in here. jonas is right, as
just like in greece. the massive underfunding of pension pensions, the states are not paying in pension. they are robbing peter to pay paul and the states are absolutely bankrupt. there is not an answer by the administration or by anybody else dealing with this. they are going to try to bail them out but it's solvency, not liquidity. >> cheryl: tracy, do you agree with john we're daling out the states in some, shape, form already? is that correct? >> absolutely. we have been all...
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May 8, 2010
05/10
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greece can't do that again, the united states is not like greece. there are so many reasons why the united states isn't comparable with greece. when you look at the pensions that go on in greece where the average suspension 93% of the average person's salary. united states is only 37%. we are nowhere near where greece is. bad example. >> bill: it's an excellent example. 25% of the greeks work for the government. here big government is expanding, more and more people working for the government. here is the bottom line on it greece owes half a trillion and can't pay it back. we owe 13 trillion ant can't pay it back. that's the bottom line here, doctor. >> well, two things. one, if you are going to look at debt, you have to compare it to the g.d.p. it's not comparable to greece. >> bill: you have to compare it to the debt. we can't pay it back. we can't pay it back. >> again, i have a lot more faith in this country than you do then, bill. >> bill: what are you going to pay it back with columbia university? you don't have the money. we have to borrow mo
greece can't do that again, the united states is not like greece. there are so many reasons why the united states isn't comparable with greece. when you look at the pensions that go on in greece where the average suspension 93% of the average person's salary. united states is only 37%. we are nowhere near where greece is. bad example. >> bill: it's an excellent example. 25% of the greeks work for the government. here big government is expanding, more and more people working for the...
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May 6, 2010
05/10
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so i propose greece should be restructured. there have been episodes of restructuring in emerging economies. it can be done instead of using official support to waste money. it's better to restructure the death. >> how close or far away is america from finding itself in a similar or identical situation with its at the time? >> debt? >> not yet because europe is leading people to invest into dollar and treasury. but with a trillion dollars bet, 22012 another trillion. the u.s. system is in gridlock. the republicans are asking for reduction and spending. some of the adjustments cannot occur only on the spending side. some inincreases over time will be necessary and if the two parties are beating each other, the party of least resistance will -- it implies there will be crisis in the united states. >> doctor do you have good news for us? are you heartened at all that even though we saw the breathtaking thousand point drop, it did recover and recovered quickly? >> well it recovered, but the problem is that this bumpiness of the eco
so i propose greece should be restructured. there have been episodes of restructuring in emerging economies. it can be done instead of using official support to waste money. it's better to restructure the death. >> how close or far away is america from finding itself in a similar or identical situation with its at the time? >> debt? >> not yet because europe is leading people to invest into dollar and treasury. but with a trillion dollars bet, 22012 another trillion. the u.s....
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May 12, 2010
05/10
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to greece? >> u.s. contributes to the international monetary fund which is contribute together greek bailout. it won't be as if u.s. taxpayers have to send their money to greece. but it is worth helping them, because we saw with the stock market last week when it looked like they might not get help the market went down almost 1,000 points. >> greta: it is sort of awkward in the sense we are better off helping those who couldn't manage their own business and have gotten themselves in a horrible mess because if we don't help them it is going to bite us even worse? >> exactlism the stock market could go down you would see a hesitance on the part of big banks to len. after lehman brothers collapsed banks pulled back on mortgage loans, small businesses, credit card. you could see that begin if there was a big default by a major country like greece. >> greta: what happened to greece? is spain and pore gal next? >> these countries lived -- portugal next? >> these countries lived beyond their means borr
to greece? >> u.s. contributes to the international monetary fund which is contribute together greek bailout. it won't be as if u.s. taxpayers have to send their money to greece. but it is worth helping them, because we saw with the stock market last week when it looked like they might not get help the market went down almost 1,000 points. >> greta: it is sort of awkward in the sense we are better off helping those who couldn't manage their own business and have gotten themselves in...
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Mar 13, 2010
03/10
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if we're like greece, we're like the greece under alexander the great. because you end up with too many military obligations. the biggest problem we have right now with the budget is iraq war and paying for it. also cutting taxes at the same time we had to fight two wars. >> this is george bush's fault? >> brenda: toby, it's all bush's fault. >> that is the other guy. this is a new guy. here is a number that got me. the average, the 50, 60 million people in the united states who get assistance is $26,000 a year. now, there's only really, you know, 20 or 30 million people in america who pay any significant taxes. so, in fact, we're very much like greece. because in greece, they literally 5% of the people pay all the taxes. the rest of greece is black market money for that. in fact, we're not kidding here. we are very much like greece when it comes to the people who get the benefits, versus the people who pay the welfare and benefit. >> brenda: almost every state is cutting benefits. >> they still have another $170 billion on the hole they have to cover. u
if we're like greece, we're like the greece under alexander the great. because you end up with too many military obligations. the biggest problem we have right now with the budget is iraq war and paying for it. also cutting taxes at the same time we had to fight two wars. >> this is george bush's fault? >> brenda: toby, it's all bush's fault. >> that is the other guy. this is a new guy. here is a number that got me. the average, the 50, 60 million people in the united states...
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Apr 29, 2010
04/10
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greece. europe's common currency is at a one-year low and even banks in france and germany with exposure to greece are said to be at risk. the u.s. with strong ties to europe has a huge stake. >> the ram my face of major cry -- major crisis of spreading through the euro zone could have consequences for the financial system. >> reporter: the other stake for the u.s. it's a major contributor the international monetary fund and should be helped to bail out greece. the total price tag of the package reportedly as much as $160 billion over three years. i cording to folks i've been speaking with, money well spent. greg palkot, f fox was. >> bret: mahmoud ahmadinejad applied for a vista a come to the u.s. for next week's treaty review conference at the united nations. meantime, desmond tutu is calling on iran to release the american hikers it's held for nine months. differences between muslim and the u.s. are at the root of a lot of international problems and president obama worked to reduce some of
greece. europe's common currency is at a one-year low and even banks in france and germany with exposure to greece are said to be at risk. the u.s. with strong ties to europe has a huge stake. >> the ram my face of major cry -- major crisis of spreading through the euro zone could have consequences for the financial system. >> reporter: the other stake for the u.s. it's a major contributor the international monetary fund and should be helped to bail out greece. the total price tag...
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May 9, 2010
05/10
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greece is -- >> paul: 2% of the european union. >> and we don't have a big trade relationship with greece either. i'm not that worried about that the problem is to the extent that the european banks own greek debt that's why the european union is deciding to jump in and bailout the greeks. not because they care about greece, because they don't want creditors their own banks to take the hit. that's a big mistake. these banks buying this debt it had a riskkr premium associated with it. greece should have to restructure its debt and the creditors should have to take a haircut that would provide a good bit of momentum for greece to start to do the right things to recover. they are not going to recover you under austere measures which include tax increases i don't think that's the way out. >> paul: the issue seems to be if we want the weak governments to be bailed out by strong governments, germany and france. is there an endless stream of bailout money? could u.s. -- through the imf the u.s. will be contributing to this rescue. >> there certainly is not and germany is not doing that great its
greece is -- >> paul: 2% of the european union. >> and we don't have a big trade relationship with greece either. i'm not that worried about that the problem is to the extent that the european banks own greek debt that's why the european union is deciding to jump in and bailout the greeks. not because they care about greece, because they don't want creditors their own banks to take the hit. that's a big mistake. these banks buying this debt it had a riskkr premium associated with...
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Jun 16, 2012
06/12
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greece, i'm sorry, todd. >> it's smart money, salivating at this. this market is going to plummet on monday. >> oh, my gosh, we've got a love-- >> and all right, well, go to the bar another time, everybody. coming up, u.s. senators grilling jp morgan's ceo, not one question about the 4 trillion dollar public pension time bomb his firm discovered. well, neil and his gang are asking questions, that's in a few minutes, but up next here, president obama deciding to let hundreds of thousands of illegal immigrants stay and legally work in america. now, someone here is saying he just put any chance of a jobs recovery on hold. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are sayin
greece, i'm sorry, todd. >> it's smart money, salivating at this. this market is going to plummet on monday. >> oh, my gosh, we've got a love-- >> and all right, well, go to the bar another time, everybody. coming up, u.s. senators grilling jp morgan's ceo, not one question about the 4 trillion dollar public pension time bomb his firm discovered. well, neil and his gang are asking questions, that's in a few minutes, but up next here, president obama deciding to let hundreds of...
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May 8, 2010
05/10
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the right formula in greece, tax enforcement. the professional classes in that country, lawyers and the doctors, and the small businesses are massive tax cheats. that's why you have revenue shortfall. if you don't fix greece, you will see problems in spain, italy and ireland, which by the way fell apart despite having a pro-business stance. >> david: steve? >> in terms of greece, the reason you have the tax evasion is because the regulations are anti-business, tax rates are high. that's why one-third of the economy -- >> that doesn't mean they get to break the law. >> that is the only way it survives. change the law so you enforce it with simplicity and if you make it, you pay it. that's the way you do it. >> david: vicky, already, the i.f.m. force -- i. m.f. forced greece to raise the tax. they had a 19% v.a.t. tax and raising it to 21% and soon to 23%. they're doing everything they can to kill the economy, not help it. >> i agree with steve in that sense. i think they should be cutting cost spending, and lowering taxes. that is
the right formula in greece, tax enforcement. the professional classes in that country, lawyers and the doctors, and the small businesses are massive tax cheats. that's why you have revenue shortfall. if you don't fix greece, you will see problems in spain, italy and ireland, which by the way fell apart despite having a pro-business stance. >> david: steve? >> in terms of greece, the reason you have the tax evasion is because the regulations are anti-business, tax rates are high....
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May 7, 2010
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we are not greece and i think we all understand that. and their problems are in many ways much deeper than ours but i want to you listen to a sound bite from stuart varney who said we need to stop what we're doing and reverse course and turn around and rethink the decisions made in washington. listen to what he said and i want your reaction, doug. >> it is modern latter day socialism. it is failing. it is characterized by high taxes and entitlement programs, cradle to grave security and by the intrusion of the government in the economy. that is modern day socialism, and, it is visibly failing, and falling to pieces in europe as we speak. martha: all right, robert gibbs says they are paying attention and do they need to reverse course perhaps on health care or anything else along those lines. >> martha, tucker is exactly right. i'm not sure i would use the language stuart varney used. but the idea is clear, that we cannot afford though entitlement programs, we have and the obligations we have taken on into the future, we have a bipartisan
we are not greece and i think we all understand that. and their problems are in many ways much deeper than ours but i want to you listen to a sound bite from stuart varney who said we need to stop what we're doing and reverse course and turn around and rethink the decisions made in washington. listen to what he said and i want your reaction, doug. >> it is modern latter day socialism. it is failing. it is characterized by high taxes and entitlement programs, cradle to grave security and...
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May 19, 2012
05/12
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the problem is the demonstration effect of greece. if greece leaded euro and converts to drachma, the economy goes into freefall and governments in spain and italy, hopefully in france where you have a new socialist president are going to take a look at what happened. >> it will be ugly. >> it will be ugly when countries leave the euro zone when they try to, sort of float on air and ignore fiscal restraint and it will care them and that's what the rest of the countries need. you know, in italy. you have a trillion dollar economy under mario monty and trying to put together labor reforms and other reforms and getting a lot of push back from italian politics. they may look at what's happening in greece and say we don't want to go there. we do not want to become third world countries inside of europe. >> well, we should not believe or think that we're going to be disinterested observers to this process, we're going to get hit. europe has to go down before it can go up. probably on the brink of recession right now and france's economy gre
the problem is the demonstration effect of greece. if greece leaded euro and converts to drachma, the economy goes into freefall and governments in spain and italy, hopefully in france where you have a new socialist president are going to take a look at what happened. >> it will be ugly. >> it will be ugly when countries leave the euro zone when they try to, sort of float on air and ignore fiscal restraint and it will care them and that's what the rest of the countries need. you...
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May 20, 2012
05/12
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. >> paul: well, it may not be greece yet. but the fiscal problems, with jerry brown saying he faces a state putting deficit, almost twice the 9.2 billion he predicted in january along with a new round of spending cuts. the governor is calling for temporary increase in the state's sales tax and a seven year sur tax on californians earning $250,000 or more a year. will it-- and a urbn urban studies profesr from chat man, california. welcome to the program. >> nice to be here. >> so her states have seen revenues grow in this economic recover. what is ronning with california? why can't they do the same? >> well, california has a lot more heavy topic, and now with facebook, people earning phenomenal amounts of money, the general class, small business and middle classes making less money. you have a facebook, and hewlett packard 30,000 layoffs. the fact is you have very high end success, but the middle class has been hollowing out and at least a decade and frankly, as governor brown said. that's where the inmo is. only how much mon
. >> paul: well, it may not be greece yet. but the fiscal problems, with jerry brown saying he faces a state putting deficit, almost twice the 9.2 billion he predicted in january along with a new round of spending cuts. the governor is calling for temporary increase in the state's sales tax and a seven year sur tax on californians earning $250,000 or more a year. will it-- and a urbn urban studies profesr from chat man, california. welcome to the program. >> nice to be here....
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May 7, 2010
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they say, let's go to greece. >> that's true. all the best places to go have riot. >> san tourini, are you kidding me? who cares if they don't have money, they have greece. >> you know what else they have in. >> yanni. >> yes. >> anything from yanni. we need him now. >> you know, bill, great point. greece used to be known for so many things like the pyramids, and what happened to them? >> the pyramids, hot guy on guy action in togas, they had it all. >> yatzee is a great word. >> lady gaga. >> i think she is greek. >> lady grapa who is a bad knockoff and opens for yanni. >> bill, do you have a comment? >> it is a bad day for mutual funds, don't know what those are. and i think it is a bad day for anyone wanting to go on vacation in greece. it is an amazing day for an arc tis and great day for monthly to have cocktailen enthusiasts. there are winners in all this. >> people did die. there were innocent people. the people rioting are [bleep] and they are killing innocent people and starting fires. it is really a frightening thing. >
they say, let's go to greece. >> that's true. all the best places to go have riot. >> san tourini, are you kidding me? who cares if they don't have money, they have greece. >> you know what else they have in. >> yanni. >> yes. >> anything from yanni. we need him now. >> you know, bill, great point. greece used to be known for so many things like the pyramids, and what happened to them? >> the pyramids, hot guy on guy action in togas, they had it...
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May 13, 2010
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greece is not going to start collecting taxes, not doing anything. it is so interconnected if greece does collapse then we got spain, portugal and it all comes back to haunt us and we are already on the hook for 54 billion dollars in this first round it is going to haunt us more. even though greece -- i don't admire the way they've handled their finances if we don't do something it is worse for us. >> i think bailouts almost never work. if greece wants to solve its financial problems it has to get its government spending underway control they are paying 14 months of work for less than 12 months of work and so on their spending is out of control. >> greta: if they don't, and they collapse, what happens? >> it means their courage currency is going to have problems. >> greta: wait a minute. what does it do the international banking industry? >> greece is only 2% of -- >> greta: they are likely going to take spain and portugal with them. >> they spend 50% of their gdp on government spending that is not sustainable. the problem is we keep in-- imitating c
greece is not going to start collecting taxes, not doing anything. it is so interconnected if greece does collapse then we got spain, portugal and it all comes back to haunt us and we are already on the hook for 54 billion dollars in this first round it is going to haunt us more. even though greece -- i don't admire the way they've handled their finances if we don't do something it is worse for us. >> i think bailouts almost never work. if greece wants to solve its financial problems it...
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Mar 9, 2010
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with greece. the reason we're told is that greece is more of a risk. germany isn't. greece doesn't pay back debts and germany does. is that fair? >> no, that's not -- that doesn't make sense. greece is a member of the european union. that places certain obligations upon them. they're not able -- you can see by the measures that george pap dre i don't is getting passed in greece that they're entering a very bigger are a dr. era of tightening their belts and paying their debts and trying very hard. so i don't think that they're a country who sounds like they're just going to say, well, we can't pay it, forget it. they're not that kind of irresponsible. >> michael, very good seeing you, we're all a very big fan here much continued success. >> thank you. >> the u.s. urging greece to fix its budget problems. stuart varney says there's something wrong with the picture and wrong with what he just said. he's the host of varney and company on the "fox business" network, which if you do not get, demand it.
with greece. the reason we're told is that greece is more of a risk. germany isn't. greece doesn't pay back debts and germany does. is that fair? >> no, that's not -- that doesn't make sense. greece is a member of the european union. that places certain obligations upon them. they're not able -- you can see by the measures that george pap dre i don't is getting passed in greece that they're entering a very bigger are a dr. era of tightening their belts and paying their debts and trying...
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May 8, 2010
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a big trade relationship with greece either. so i'm not that worried about that. the problem hear really is to the extent that the european banks own greek debt and that's why the european union is deciding to jump in and bail out the greeks, not because they-- they don't want the creditors who happen to be their own banks to take the hit. i think that's a mistake, these banks were buying this debt, it had a risk premium associated with it. greece should have to restructure its debt and creditors should have to take a hair cut and i think that would also provide a good bit of momentum for greece to start to do the right things to recover. because, they're not going to be able to recover under very austere measures which include tax increases. i don't think that's the way out. >> paul: the issue here seems to be that we want the weak governments to be bailed out by the strong governments, the germany and france, but is there an endless stream of bailout money for germany and france and u.s. taxpayers, too. through the imf, the u.
a big trade relationship with greece either. so i'm not that worried about that. the problem hear really is to the extent that the european banks own greek debt and that's why the european union is deciding to jump in and bail out the greeks, not because they-- they don't want the creditors who happen to be their own banks to take the hit. i think that's a mistake, these banks were buying this debt, it had a risk premium associated with it. greece should have to restructure its debt and...
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Jun 24, 2011
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if we don't and greece goes under what is the impact on the united states? >> greece is already un. they are already having difficulty. they don't want to seem to get things under control. there's all kinds of rebellion. they brought this on themselves. everybody in europe is upset because they know they are going to keep pouring money into greece that is seemingly unwilling to do what has to be done. they have done some good things but it has not been near enough. >> greta: one of the problems the fact there is so much tax evasion. they don't collect taxes. now there's a drive to be an austerity program the people have taken to the streets, because they don't want ler the threshold for which they have to pay taxes. >> so many people are on the dole in greece. in the greek government. we are getting there too. used to be only 40% of households didn't pay income taxes in this country. unobamacare it is now 51%. headed -- towards 60%. which is europe revisited. that's what this administration is doing. the same thing that the tkpaoepl in greece. we just heard yesterday -- we heard if
if we don't and greece goes under what is the impact on the united states? >> greece is already un. they are already having difficulty. they don't want to seem to get things under control. there's all kinds of rebellion. they brought this on themselves. everybody in europe is upset because they know they are going to keep pouring money into greece that is seemingly unwilling to do what has to be done. they have done some good things but it has not been near enough. >> greta: one of...
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Feb 25, 2010
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greece, france has a huge connection to greece. regardless of the fact it's part of the e.c., it's connected by its exposure. you see the $79 billion worth of exposure. when greece goes down, there is going to be an impact on france. >> glenn: when greece goes down, we're just using these -- >> it could be any country. >> glenn: more than france, et cetera, et cetera, so back off on these examples. france goes down. this week in france. then people will rush to bail-out france because france can't bail, that won't work. >> larger country, you've got germany that comes in and we make the assumption germany is there to bail out france as part of the e.c.. >> france if they were going to bail out greece, which i think they said no, to right? >> correct. >> glenn: right. it makes them -- they know they're down this line. so to give money here would have helped them if they would have believed it. >> germany had resistance. the people said no, no, no. we're not going to do that. >> glenn: got it. 8% of import comes from france so that a
greece, france has a huge connection to greece. regardless of the fact it's part of the e.c., it's connected by its exposure. you see the $79 billion worth of exposure. when greece goes down, there is going to be an impact on france. >> glenn: when greece goes down, we're just using these -- >> it could be any country. >> glenn: more than france, et cetera, et cetera, so back off on these examples. france goes down. this week in france. then people will rush to bail-out france...
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the fact still remains, greece has a serious problem. people taking to the streets, yesterday three killed, today, we don't know about tomorrow. they had to cut everything they've enraged their population. they've got to get loans from europe, from the imf we are the big ones in the imf. the white house ÷ itbe gladq was a glitch but the problem is, this is our problem. >> this is what it means to have to eat your spinach after many years of having great desserts. concerns over greece and possibly others is causing concern this could be contagious and spread to italy, spain, portugal, ireland. even someone said today britain. it is hard for people to emergency. what it means also in america, it is a warning about trying to live with unsustainable debt. >> greta: you have raised the word britain. there's a lot of action going on. what do you make of the election? >> it was interesting. i don't remember a u.k. election having this much sort of interest in america. maybe i'm paying more attention now i think has been very interesting. for t
the fact still remains, greece has a serious problem. people taking to the streets, yesterday three killed, today, we don't know about tomorrow. they had to cut everything they've enraged their population. they've got to get loans from europe, from the imf we are the big ones in the imf. the white house ÷ itbe gladq was a glitch but the problem is, this is our problem. >> this is what it means to have to eat your spinach after many years of having great desserts. concerns over greece and...
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Jun 17, 2011
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banks from greece. so if that money is not repaid, then, of course, the prospect is that you make it all the more difficult for u.s. banks to function in terms of lending here at home for our citizens. the largers prospect is global economic crisis, lack of confidence that would sink wall street and possibly have a negative or delltary effect on terms of the economic recovery that we're trying to mount. this is not just greece. you can talk about portugal and spain. you talk about a euro zone implosion. if that happens the world is back to a deep recession. >> bret: charles, how do we get to where the euro goes under. does it happen overnight? can we see it? are there warning signs to stop before it gets to that point? >> this happens overnight. a tipover effect. everybody has seen this coming. the greeks have been insolvent for years. harry reid saying it happens for years. when it happens it's like the lehman brothers where it's relatively small but it sets off a panic. that is what happens to the his
banks from greece. so if that money is not repaid, then, of course, the prospect is that you make it all the more difficult for u.s. banks to function in terms of lending here at home for our citizens. the largers prospect is global economic crisis, lack of confidence that would sink wall street and possibly have a negative or delltary effect on terms of the economic recovery that we're trying to mount. this is not just greece. you can talk about portugal and spain. you talk about a euro zone...
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mara, talk about greece first. >> for a long time we all thought greece was part of the tumble. >> bret: in part it may be. >> but it was the background noise was the environment that it happened etch if it wasn't the proximate cause. >> bret: greece, whose debt is now 115% of g.d.p. ours is about 84 now. and they have to impose tough austerity measures which means tax hikes and spending cuts and the people of greece, as you can see, didn't like it one bit and rioted. this is something that could spread, kind of debt contagion can spread to spain, portugal, ireland. it's scary. there is a couple of things. the u.s. is concerned it could have a spill he ospill-ov effect to us. but this in a bigger way is our problem. we have unsustainable deficits that have to be cured with something similar, maybe not as draconian budget cuts, cuts in spending and maybe some kind of tax hikes. i'm not saying that americans will be going in the streets and throwing molotov cocktails. >> they might. just wait. >> it's interesting, what is interesting about it, there was a report in the "new york times" ov
mara, talk about greece first. >> for a long time we all thought greece was part of the tumble. >> bret: in part it may be. >> but it was the background noise was the environment that it happened etch if it wasn't the proximate cause. >> bret: greece, whose debt is now 115% of g.d.p. ours is about 84 now. and they have to impose tough austerity measures which means tax hikes and spending cuts and the people of greece, as you can see, didn't like it one bit and rioted....
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May 11, 2010
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the third story is greece. greece. we're not only bailing ourselves out, fannie mae and freddie, but now we're trying to bail out europe yazzual. european union with the i.m.f. is giving $1 trillion to greece. $1 trillion. the u.s. contributes 17% of the i.m.f. funds. how much are we on the hook for? $54 billion. 54. that is more than the white house expects for budgets of our commerce department. our labor department, interior, the treasury. $48 billion. you got to be kidding me. that is all of these combined for the year. the original bail-out was $788 billion. that was for us. then maybe $1.5 trillion. then $3 trillion. the speculation now, nobody knows, but they think our bail-outs of us could be upwards of $20 trillion. they're just charging it. you don't even know. what are the final answers here? where are we headed? what are we doing? now we're doing it globally. what happened after we gave the money to greece? this bothers me. the market crashed. and now i get up this morning and i read that credit default swa
the third story is greece. greece. we're not only bailing ourselves out, fannie mae and freddie, but now we're trying to bail out europe yazzual. european union with the i.m.f. is giving $1 trillion to greece. $1 trillion. the u.s. contributes 17% of the i.m.f. funds. how much are we on the hook for? $54 billion. 54. that is more than the white house expects for budgets of our commerce department. our labor department, interior, the treasury. $48 billion. you got to be kidding me. that is all...
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May 12, 2010
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if left unchecking we will be greece at this rate. before we put americans on the hook for loans to greece or europe we ought to put our fiscal house in order -- >> neil: here's what i worry about. say you don't want this money going to greece. that's your right, your concern, your goal. now let's say in the future, congress can dictate what these lending agencies do so say there's a chile labour movement and we want to see world moneys found that. would you find that an encroachment? >> we want to look at the issue right now. >> neil: but you know what happens, you know what happens -- >> but look, what i'm saying is we ought to put our fiscal house in orderrard europe put their house in order, the european union was formed to compete with the united states of america. the idea. eu is going to the imf and getting tens of billions in loan guarantees that future generations of americans may be on the hook for to bailout out a -- >> neil: i understand everything you're saying. inland everything you're saying and you're a pate -- patriot
if left unchecking we will be greece at this rate. before we put americans on the hook for loans to greece or europe we ought to put our fiscal house in order -- >> neil: here's what i worry about. say you don't want this money going to greece. that's your right, your concern, your goal. now let's say in the future, congress can dictate what these lending agencies do so say there's a chile labour movement and we want to see world moneys found that. would you find that an encroachment?...
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May 13, 2010
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how is it working out for you now, greece? the american power act has nothing to do with american power. unless it means redistybution of america's power from the american people to the global elite. find all you can. maurice strong. send it now. back in a minute. i got an egg a candy necklace an orange a band-aid a stamp helium i got a mustache [pop] lipstick special report but now back to gleglenn. >> glenn: all right. thanks for the update. now look at the weather forecast. look like we have some scattered showers of journalism breaking in out the south. big thunder boomers down there. this is a drought from the west and we're starting to see the late-breaking shower at the "new york times." oh, they are a little late! but hey, better late than never, huh? the mighty paper of record on the case now. this is the headlines from the times this morning. in greek crisis, some will see parallels to u.s. debt woes. you think? really? let me quote paragraph from the new regulation. easy to look at the protesters and politicians in
how is it working out for you now, greece? the american power act has nothing to do with american power. unless it means redistybution of america's power from the american people to the global elite. find all you can. maurice strong. send it now. back in a minute. i got an egg a candy necklace an orange a band-aid a stamp helium i got a mustache [pop] lipstick special report but now back to gleglenn. >> glenn: all right. thanks for the update. now look at the weather forecast. look like...
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Jun 17, 2012
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thank you. >> eric: jamie, from greece to iran. the u.s. and five powers meeting in moscow tomorrow for yet another round of talks aimed at trying to stop iran from building a potential nuclear bomb and the latest negotiations come weeks before the sanctions kick in, an oil embargo go from the european union and with iran in turmoil and the currency lost 50% of its value, prices sky rocked 40%, will more economic sanctions finally force tehran to give into western demands or will the iranians continue their brazen abject defiance? john bolton, a former ambassador to the u.n. and a fox news contributor who joins us every sunday at this time. good morning, ambassador. >> good morning, eric, glad to be with you. >> eric: there were zillions of meetings in vienna and istanbul and tomorrow, moscow, why would we expect any different result from the meetings that start tomorrow than before? >> well, i think it is very unlikely there will be a different result. we have seen a lot of coordination in the past few weeks, between russia and iran. every
thank you. >> eric: jamie, from greece to iran. the u.s. and five powers meeting in moscow tomorrow for yet another round of talks aimed at trying to stop iran from building a potential nuclear bomb and the latest negotiations come weeks before the sanctions kick in, an oil embargo go from the european union and with iran in turmoil and the currency lost 50% of its value, prices sky rocked 40%, will more economic sanctions finally force tehran to give into western demands or will the...
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May 12, 2010
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how is it working out for you now, greece? the american power act has nothing to do with american power. unless it means redistybution of america's power from the american people to the global elite. find all you can. maurice strong. send it now. back in a minute. >>> i'm patti ann browne. forecast for commander and chief of u.s. troops in afghanistan, there will be hard fighting in the next several months. the president alongside afghanistan's leader at the white house said he does still expect to bring forces home from the region in july of next year. >> elena kagan making the round on capitol hill today. the senate majority leader harry reid says he is confident she is the right pick for the job. republicans pick florida for 2012 convention. glenn beck returns in a moment, but first, bret baier previews special report. >> bret: hey, coming up. how will the healthcare law play for democrats this november? the politics and new numbers about the law tonight. new administration efforts to try to trim military spending. join me
how is it working out for you now, greece? the american power act has nothing to do with american power. unless it means redistybution of america's power from the american people to the global elite. find all you can. maurice strong. send it now. back in a minute. >>> i'm patti ann browne. forecast for commander and chief of u.s. troops in afghanistan, there will be hard fighting in the next several months. the president alongside afghanistan's leader at the white house said he does...